Michael Saylor rejected reports that Strategy Inc. had newly authorized up to $5 billion in bitcoin sales, calling the claim a recycling of a capital-management framework announced in June. The program permits bitcoin sales for defined corporate purposes but requires none, and Strategy says it expects to remain a net buyer of bitcoin over time.
Michael Saylor rejected reports on Aug. 1 that Strategy Inc. (Nasdaq: MSTR) had newly authorized up to $5 billion in bitcoin sales, after a widely circulated social media post presented the company's existing capital-management framework as a fresh decision. Saylor characterized the claim as recycled information. He explained that the authorization was announced June 29 as part of Strategy's Digital Credit Capital Framework.
Framework Permits Sales, Doesn't Require Them
Saylor reiterated that the framework permits bitcoin sales for defined corporate purposes and that Strategy has announced no additional bitcoin sale authorization. Under the program, management retains $1.25 billion in unused reserve-building capacity and may direct proceeds toward dividends, interest, repurchases, taxes, fees, and transaction expenses.
Filing Shows Prior Sales Funded Dividends
A July 6 filing with the U.S. Securities and Exchange Commission recorded 3,588 bitcoin sold for $216 million between June 29 and July 5. The sale followed Strategy's first bitcoin sale since 2022, a disposal of 32 BTC, to help fund preferred-stock dividend payments. The company later issued $263.5 million in common stock without buying additional bitcoin, opting instead to increase cash reserves and liquidity.
No "Never Sell" Policy, Saylor Says
In an Aug. 1 X post, Saylor said Strategy announced the BTC Monetization Program on June 29, 31 days before reporting its Q2 results, rather than after a quarterly loss. He added that Strategy has never maintained a "never sell" policy, that the program requires no bitcoin sales, and that the company expects to remain a net buyer over time.
Investors Remain Split on the Framework
Market observers remain divided over the structure: supporters view it as a way to preserve liquidity and meet obligations without hurried bitcoin disposals, while critics warn that supporting STRC near its $100 target could place added costs on common shareholders through higher dividends or further asset sales. The framework has no fixed expiration date, and any sale outside its approved purposes would require additional authorization from Strategy's board.
Source: Bitcoin News
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